Issue Q4 2021 4 Key Components of an Enterprise Cybersecurity Strategy When it comes to the technicalities of law, there is a wealth of knowledge that simply cannot be learned fromacademic studies. The teamat Takashima International Patent Office, including the renownedMitsunori Kamada, use their formidable experience to help their clients achieve incredible levels of success. Recognised for their efforts in the APAC Legal Awards 2021, we thought it time to take a closer look at their success. Jincheng Tongda & Neal: Best Securities & Capital Markets Law Firm – China & Corporate Attorney of the Year (China): Zhang Yunyan In this issue:
2 APAC / Issue Q4 2021 Welcome to the Q4 edition of APAC Insider Magazine, your quarterly source for all of the latest news and updates from across the Asia Pacific region. As we enter the final quarter of 2021, we are able to reflect on a busy year for the APAC region. From the positive and inspiring moments such as the victories celebrated at the Tokyo Olympic Games, to the bleaker events and the everpresent shadow of an ongoing global pandemic, there is no doubt that 2021 has been a year unlike any other. Similarly, it has been a busy year for APAC Insider, which has celebrated the successes of a plethora of businesses across a range of awards campaigns, despite the turbulence of the past twelve months. In this Q4 issue of APAC Insider, we present yet more success: our featured company, for instance, is the Singapore-based salon, Nail Palace, which has won not one but two awards at the South East Asia Business Awards 2021. We find out more about the chain’s story so far, and those of the other award-winning companies featured within this issue. Thus, we hope you enjoy this quarter’s edition of APAC Insider and its insight into the corporate landscape of the region. As ever, we wish you all the best as 2021 comes to a close and look forward to welcoming you back in 2022. Alex Abraham, Editor Website: www.apac-insider.com AI Global Media, Ltd. (AI) takes reasonable measures to ensure the quality of the information on this web site. However, AI will not assume any legal liability or responsibility for the accuracy, correctness or completeness of any information that is available through this web site. If errors are brought to our attention, we will try to correct them. The information available through the website and our partner publications is for your general information and use and is not intended to address any particular finance or investment requirements. In particular, the information does not constitute any form of advice or recommendation by us or any of our partner publications and is not intended to be relied upon by users in making or refraining from making any investment or financial decisions. Appropriate independent advice should be obtained before making any such decision. Any arrangement made between you and any third party named in the site is at your sole risk and responsibility. Editorial Team Laura Brookes, Senior Editor | Alexandra Abraham, Editor Rebecca Scotland, Writer | Daniel Long, Writer El Muers, Writer | Ashley-Francis Cox, Writer | Sofi Bajor, Writer Design Team Emma Hunt, Senior Designer | Daniela Levinte, Graphic Designer
APAC / Issue Q4 2021 3 , 4. Media OutReach Newswire Partners with The International Association for Child and Adolescent Psychiatry and Allied Professions (IACAPAP) to Promote Mental Health in Children and Adolescents 5. Xuanzhu and SignalChem Lifesciences Corporation Announce Collaboration and Licensing Agreement for SLC-391 in the Greater China Region 7. Nail Palace LTD: Nail Care Salon Chain of the Year – Singapore & APAC Client Choice Award: Best For Personalised Nail Treatments 8. I.R.B Law LLP: Best Full-Service Law Firm - Singapore 9. Binary Digital Advertising Inc.: Digital Transformation Specialists of the Year – the Philippines 10. Takashima International Patent Office: Best Chemistry & Biology Patent Law Experts 2021 Technical Patent Attorney of the Year (Japan): Mitsunori Kamada 11. Jincheng Tongda & Neal: Best Securities & Capital Markets Law Firm – China & Corporate Attorney of the Year (China): Zhang Yunyan 12. Shareholders more likely to support eco-initiatives if they have experienced climate disasters 13. White collar jobs market booming: Employers need to be more creative to attract talent amid chronic skills shortages 14. 4 Key Components of an Enterprise Cybersecurity Strategy Contents
4 APAC / Issue Q4 2021 NEWS , Media OutReach, the first global newswire and press release distribution service provider founded in Asia, is pleased to announce a global partnership with The International Association for Child and Adolescent Psychiatry and Allied Professions (IACAPAP), an international non-profit organization established in 1937. IACAPAP’s mission is to advocate for the promotion of the mental health and development of children and adolescents through policy, practice, and research. Under this partnership, Media OutReach Newswire will fully support IACAPAP’s global communications goals by exclusively distributing their market-specific press releases through Asia Pacific, USA, UK, Europe, Middle East, Africa and Latin America. IACAPAP has numerous activities aimed to promote child and adolescent mental health around the globe. Among these are the bi-annual world congresses where scientific advancements are shared. The IACAPAP also educates mental health professionals through a free e-textbook, online and in-person courses, and an open access scientific journal. Career development programs for early career professionals through the flagship Donald Cohen programme and Helmut Remschmidt Research Seminars are also carried out. “We are very pleased to engage Media OutReach to be our global newswire partner to help us promote youth mental health issues around the world. By leveraging their expertise in media industry and global distribution network, we hope our message will reach a global audience. In a world where one out of 5 children suffer from a mental health problem that is often not addressed, spreading knowledge and helping to combat stigma is invaluable.” Said Prof. Daniel Fung, the IACAPAP President. “As the global newswire partner to IACAPAP, Media OutReach Newswire plays an integral role in helping the organisation to spread awareness about the importance of prevention, promotion, and Media OutReach Newswire Partners with The International Association for Child and Adolescent Psychiatry and Allied Professions (IACAPAP) to Promote Mental Health in Children and Adolescents
APAC / Issue Q4 2021 5 NEWS , Sihuan Pharmaceutical Holdings Group Ltd., together with its subsidiaries and SignalChem Lifesciences Corporation today announced that Sihuan Pharmaceutical Holdings Group Ltd subsidiary company Xuanzhu Biopharmaceutical Co., Ltd. (“Xuanzhu”) and SignalChem Lifesciences Corporation (“SignalChem”) have entered into an exclusive collaboration and licensing agreement for the clinical development and commercialization of SLC391, a potent and selective AXL targeting inhibitor, in the Greater China region. Under the terms of the agreement, Xuanzhu will pay to SignalChem an upfront fee of thirteen million US dollars (US$13,000,000). Additional development milestones and royalties have also been committed. The exclusive rights for SLC-391 for the field of oncology is for the Greater China region (Mainland China, Hong Kong, Macau and Taiwan). AXL is a member of TAM (Tyro3, AXL, Mer) family of receptor tyrosine kinases. AXL along with its ligand GAS6 (growth arrest-specific gene 6) is highly expressed and activated in many malignant tumors, such as acute myeloid leukemia, kidney, pancreatic, breast, lung and ovarian cancer, etc. As one of the crucial signaling pathways promoting tumor growth and metastasis, immune escape and drug resistance, GAS6-AXL pathway is considered to be an attractive target for Xuanzhu and SignalChem Lifesciences Corporation Announce Collaboration and Licensing Agreement for SLC-391 in the Greater China Region cancer treatment and has attracted widespread attention. “The agreement with SignalChem will further advance Xuanzhu’s pipeline in the solid tumor and hematoma space. The results from preclinical and phase 1 clinical development demonstrated SLC391 superiority not only as SLC391 has prominent single-agent activities in multiple solid and hematological tumors but also can potentially be administered with a variety of drugs under development at Xuanzhu. Both parties will use their respective resources to accelerate the clinical approval of SLC-391 in China,” said Ms. Xu Yanjun, Chairman of Xuanzhu. “Xuanzhu will continue to expand its efforts to develop and commercialize innovative drugs in the oncology field.” “Xuanzhu Biopharmaceutical, a subsidiary of Sihuan Pharmaceutical, is a highly innovative and progressive company,” commented by Mr. Jun Yan, the Chairman and President of SignalChem, “We are very pleased to establish a partnership with Xuanzhu. This licensing agreement is of great significance for SignalChem to further validate and expand SLC-391’s clinical superiority. This agreement will accelerate SLC-391’s development timeline to reach the market and provide more effective treatment alternatives for patients with cancer.” Mr. Jun Yan added, “the size of the agreement, including upfront, milestone and royalties, with Xuanzhu may be one of the largest agreements signed in Canada with a Chinese bio-pharma company for the Chinese territory rights, and we are looking forward to reaching all anticipated objectives. Furthermore, SignalChem will continue its efforts to expand and accelerate clinical development with SLC-391 for wider indications in even more geographic territories.” intervention of mental health issues in children and young people around the world. We hope by becoming the voice of the organisation, the society will come to the realisation that mental health issues in children and young people should not be stigmatized and that there are effective interventions for youth with mental health problems. Furthermore, IACAPAP’s website has useful resources on topics related to children and young people’s mental health issues that anyone, including parents, children, young people, or even members of the media, can access for free. We will also be distributing thought leadership articles from the IACAPAP every quarter on pertinent public youth mental health issues. We hope through knowledge sharing and imparting positive messages, we can collectively make a positive difference in people’s lives. Knowledge changes perception and shape’s opinion.” Said Ms. Jennifer Kok, the Founder & CEO of Media OutReach.” Media OutReach has been supporting numerous local and international non-profit organisations which focus on social and mental wellbeing of children and young people. “We help on the premise that every child matter, regardless where they live and what skin colour they are, no child or adolescent should be neglected. They are the future of the world, and this our vision aligns with that of IACAPAP’s. We are very certain that this partnership will bring a positive impact to the society and help to change people’s attitudes towards mental health issue. More importantly, we want parents and society to regard seeking mental health advice as just the same as going to your general practitioners.” She continued. Media OutReach’s guarantee online news posting helps to make articles available to a global audience and by delivering news directly to the inboxes of relevant journalists out of 140,000 media contacts, the newswire will ensure IACAPAP’s news is readily available for journalists who would like to write or research about related topics. “With Media OutReach’s global press release distribution capabilities, we are able to make changes impactfully.” Said Ms Kok.
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APAC / Issue Q4 2021 7 , Jun21767 Nail Care Salon Chain of the Year – Singapore & APAC Client Choice Award: Best For Personalised Nail Treatments For exceptional artistic flair and a wide variety of services, Nail Palace Ltd has something for everyone. Here we look at what the services it provides and the kind of nail art it produces, as well as its attitude towards business. As an award-winning chain, Nail Palace has now exceeded expectations and won two prestigious awards at the South East Asia Business Awards 2021. Since 2002, Nail Palace Ltd has been creating stunning nail design and providing top-quality nail care solutions to thousands of customers in Singapore. As a chain of salons, Nail Palace has been able to reach a high volume of customers across a wide area. Not only does Nail Palace provide the best service for pedicures, manicures, and nail art services, but it also offers foot hydro-spa therapy, sole renewal treatment and other services. As a chain, it prides itself on its growth from one salon to a selection of salons stretching across a wide area. Its mission has always been to provide customers with the best service which helps them to enhance outer as well as inner beauty, whilst increasing confidence. With regards to its nail art services, Nail Palace delivers the best Japanese 3D nail art designs, glitters, nail decals and more. It offers the best nail art and design for an affordable price and time efficient experience. It provides a premium selection of nail care services for all of its customers, and never disappoints. This is how it has won multiple awards. Nail Palace has over 150 professional nail technicians and an experienced founder who saw the beauty and potential in it from the beginning. Founder, Miss Cheng, knew that Nail Palace would bring about a lot of happy customers so she did everything she could to cater for her vision. The nail salons she visited didn’t have the best equipment, so she decided to ensure only the best for her own chain. Everything Nail Palace does is set up for the benefit of its customers. It does not wish to focus solely on its profit margins and income, but it wants to focus on the overall happiness of its customers. Customer satisfaction is what really matters to Nail Palace, and that is why it has invested in so many different brands and services for them to enjoy. Nail Palace was founded to offer the customer a personalised experience that will make them feel truly special and beautiful. With the founder, staff, and customers visions in mind, Nail Palace will continue giving its best to everyone that it works with. Contact: Shamaine Sim Company: Nail Palace PTE. LTD. Web Address: www.nailpalace.com.sg
8 APAC / Issue Q4 2021 , Best Full-Service Law Firm - Singapore Finding a highly professional, affordable, one-stop, lawfirm can be difficult at the best of times. Here’s where I.R.B Law LLP comes in. With its dedicated teamof professionals, I.R.B is able to offer complete legal services to its clients across Singapore, offering them support in variety of legal matters. We find out more following the firm’s recent success at the South East Asia Business Awards 2021. Founded just over six years ago, I.R.B Law LLP has since grown a team of just three lawyers to an enterprise comprising at least 50 employees, among whom are lawyers, paralegals, and other professionals. After building such a strong team, I.R.B has created a bold, reliable foundation upon which to reinforce long-lasting relationships with existing clients as well as potential new clients, as it supports them in a range of legal matters of varying complexity. The firm was founded on four principles: Integrity, Affordability, Quality, and Hard Work. Each member of the I.R.B team promotes these principles and enforces them within the work they do. From client to client, I.R.B staff offers respect and professionalism for each job undertaken, and all at an affordable price, so that everyone has a fair chance at receiving the best advice. I.R.B boasts expertise ranging from Family Law to Estate Law and Litigation and Dispute Resolution; from Personal Legal Procedures and Syariah Law to Bankruptcy, Restructuring and Insolvency Law, as well as Corporate and Commercial Law, and many other areas of speciality such as criminal defence and due diligence. There is a service for everyone who needs it, and I.R.B knows exactly how to deal with each situation with respect, understanding, and non-judgement. As a medium-sized firm, I.R.B is able to provide a bespoke service as a one-stop shop of legal advice, whilst still remaining able to handle large scale international transactions and cross-border corporate legal matters. Its clients vary from individuals to business professionals, and it operates on a fixed fee arrangement for all of them. The payments are already agreed so that there are no surprises for anyone involved. As a bonus, I.R.B is committed to giving back, and is dedicated to sponsoring a number of organisations, including the National University of Singapore and the Singapore Management University. By offering awards to students throughout these universities, I.R.B is encouraging people to pursue their dreams as well as being inspired to continue working hard to see both their personal and professional ambitions come to fruition. Overall, I.R.B is an awardwinning, full-service law firm that flexes its highly professional and extremely accurate skill sets on a daily basis, so that everyone can experience a better legal process, for less. Contact: Haryani Othman Web Address: www.irblaw.com.sg Jun21110
APAC / Issue Q4 2021 9 , May21509 Binary Digital is in the service of providing transformative digital solutions that inspire meaningful engagements. It has been fortunate to have worked with local and global market leaders across different industries with some projects recognised internationally for digital andmarketing effectiveness. Binary Digital is an end-to-end solution provider covering requirements from strategy, campaign and platform development, through to rollout on channel tactics down to analytics. It has an inhouse team of marketing and development experts, which allows it to provide a holistic package at competitive rates. Two heads are better than one, and teamwork is a priority at Binary Digital. Its people value each other’s opinion and expertise, and this is something that the company makes the most of. They trust each other but at the same time maintain personal accountabilities, ensuring that they remain true to their commitments. Growth is also valued, taking the time to learn from each other and expose themselves to external best practices to maintain competitive advantage. The Binary Digital team is proud of its achievements over the seven years since the company’s establishment. It is continuously growing, keeping up with changing trends and consumer behaviours, be-friending data, understanding potential needs and gaps and coming up with solutions that can bridge these. Its service is built on trust and mutual respect. Its clients are its partners, and it makes sure that their goals and interests align with its own – equal opportunities to listen, be heard, and work on a mutually beneficial way forward. The team didn’t let its service and dedication falter during the pandemic either. The primary challenge for Binary Digital’s clients was continuity – with the restrictions, clients really had challenges with continuing consumer relations and standing out in the (digital) space, which was getting cluttered because it was the only space that everyone could use. Together with BTL agencies (Oncue Media, Hey Communications, and Five Seconds Advertising) of the Tagline Group, its holdings company, Binary Digital was quick to spot potential opportunities for more immersive online engagements and pursue them before anyone else. That’s how it’s Virtual Events and Activation Platform came to life – with its mastery of on-ground engagements and digital capabilities, it was able to build a first-of-its-kind virtual events platform that could house multimedia touchpoints and gamified journey for a differentiated online experience. Consumer engagements are really all about influencing a sense of normalcy and providing respite amid the stressful external environment. So, entertainment, and variety of touchpoint format was critical. User experience incorporated walkthroughs and flythroughs, as if they were navigating an actual space. Of course, everything had to be mobile first – responsive, easy to navigate, most of the time accessible with minimum bandwidth requirement. Speaking about what the future holds for the firm, Managing Director, Anika Punzalan said, “While we are proud of what we have achieved, we know that we have barely scratched the surface in digital engagements, and there’s a plethora of opportunities that we have yet to explore. But we are looking into more innovations like AR, AI, and the like as we further navigate consumer needs going into the next normal.” Company: Binary Digital Advertising Inc. Contact: Anika Punzalan Email: [email protected] Website: www.binary.digital Digital Transformation Specialists of the Year – the Philippines
10 APAC / Issue Q4 2021 , Best Chemistry & Biology Patent LawExperts 2021 Technical Patent Attorney of the Year (Japan): Mitsunori Kamada When it comes to the technicalities of law, there is a wealth of knowledge that simply cannot be learned fromacademic studies. The teamat Takashima International Patent Office, including the renownedMitsunori Kamada, use their formidable experience to help their clients achieve incredible levels of success. Recognised for their efforts in the APAC Legal Awards 2021, we thought it time to take a closer look at their success. The world of patent law is incredibly complex, and enforcing the protection of someone’s patent can be a challenge even in the best of circumstances. The team behind Takashima International are not just experts in this field in Japan, they can offer support to clients that gives them protection on an international scale. The team’s international approach has been key to their continued success. Over the years, the firm have experienced a large amount of foreign cases not just in terms of the volume of these cases, but the diverse nature of countries involved. This gives them a unique perspective that cannot be matched, as they pick up knowledge from around the globe. The team’s ability to support their clients is only possible thanks to the various affiliated offices that Takashima International is involved with. There are more than 600 different offices around the world, allowing the team to provide their leading services with the local knowledge that is required to secure success. Because of this, Takashima International is proud to offer advanced services in both developed and developing countries. While the team covers a wealth of different technical fields, Takashima International is an inherently collaborative organisation. Instead of having different departments for each field, the people in charge of each area work closely with their counterparts to ensure success. As technologies become more advanced and complex, the need to combine skills is more and more important to organisations. Needless to say, as a result of the team’s collaborative nature, the team have achieved incredible results for their clients. Leading the way forward is the firm’s President, Mr. Kamada. His specialism in life sciences and pharmaceuticals is built on a deep understanding gleaned from B.S. degrees in biology and chemistry from Kyoto University and graduate studies on molecular biology and genetic engineering at Hiroshima University. Since joining Takashima International in 1995, he has been recognised for his incredibly high standards in supporting the needs of his clients. This support crosses borders, with Mr. Kamada’s working for clients based in Japan, the United States, the UK, the rest of Europe, Australia, Israel, China, Taiwan and Korea. His extensive experience in formulating patent strategies and managing patent portfolios allows him to counsel on patent validity, patent infringement and patent or knowhow licensing. It has also seen him invited to provide lectures for IP members and researchers in the various organisations associated with IP issues in Japan. Much of what the Takashima International team does involves the development of new technologies which means that the firm has become experts at understanding innovation as it happens. Every aspect of the team’s work is done in close connection with the clients to ensure that the team communicate the meaning clearly to the relevant parties. A result of this work has been the introduction of a video conference system which has allowed the team to continue their close connections with clients throughout the pandemic. As so much of what the team offers is technical in nature, the team is not split along local and international lines. Instead, everyone involved in a case is fully equipped to handle domestic and foreign cases with equal care. Even when working on a project that is purely based in Japan, the Takashima International team will take the time to prepare a specification that can be used in foreign countries. This act of future proofing is key to the team’s continued success within the industry. It proves not only an international interest in a project but secures these interests on behalf of the client. When it comes to tackling the challenge of international patents, the Takashima International team are the perfect choice. They bring not just a wealth of knowledge, but a wealth of experience that sets them apart from the competition. Their work goes above and beyond, ensuring success for all parties. Company: Takashima International Patent Office Contact: Mitsunori Kamada Email: [email protected] Takashima International Patent Office Sep21038
APAC / Issue Q4 2021 11 , Widely recognised as a leading full-service lawfirmof both China and Asia, Jincheng Tongda &Neal has grown to become one the world’s most respected authorities on a comprehensive range of business and legal matters. Operating across twelve offices as part of a global network, JT&N boasts an impressive roster of awards and accreditations, that has this year expanded to include twomore from the APAC Legal Awards 2021. We find out more about the firmand this year’s recipient of Corporate Attorney of the Year (China), Ms Zhang Yunyan. Founded in 1992, Jincheng Tongda & Neal (JT&N) is today recognised as a leading fullservice law firm of China, with a reputation for excellence that extends across Asia and around the world. The award-winning firm is equipped with profound expertise that spans an extensive range of practice areas, including Corporate Law, Finance, Intellectual Property, International Trade, Litigation and Real Estate. Through this extensive service list, JT&N is on a mission to provide tailored legal services that fully satisfy client demands, and to deliver those services efficiently, economically, and to a high-performance standard. With its team of more than a hundred qualified and talented attorneys based in twelve offices located in key urban centres across China and one liaison office in Tokyo, Japan, JT&N is able to deliver on its commitment to implementing all the required resources and skills to take on the legal matters of its clients, no matter their size or complexity. Consequently, JT&N is trusted by a broad and diverse client base. The firm represents many leading international and domestic companies, including large and medium-sized stateowned enterprises, publicly listed companies and private enterprises, multinational corporations, financial institutions, investment funds, as well as government authorities and many other organisations and individuals Jincheng Tongda & Neal Best Securities & Capital Markets Law Firm – China & Corporate Attorney of the Year (China): Zhang Yunyan in need of legal services. With almost thirty years of experience behind it, JT&N is well-versed in handling legal and business matters across all major economic sectors and business models, making it an ideal choice in partner across industries and regions. However, it is JT&N’s far-reaching business and legal network that truly sets it apart in the global law sector. The legal team at JT&N comprises an exceptional selection of lawyers and attorneys qualified to practise in a myriad of jurisdictions, including the United States, Canada, England and Wales, Australia, and Hong Kong. Among them is Senior Partner, Zhang Yunyan, this year’s winner of Corporate Attorney of the Year (China). An ‘Innovation Scholar’ of Yale University and Chief Legal Advisor of the Global Alliance of Small and Medium-sized Enterprises in China, Ms Zhang has utilised more than 20 years of legal experience and expertise spanning law, business administration and finance to serve as an independent director to a number of listed companies. Having already been awarded with prestigious accolades such as “Third Class Merit of Individual Lawyer” and “2020 ALB China Top 15 Female Lawyers”, her most recent success at the APAC Legal Awards 2021 is further testament to her excellence in both her main practicing areas like Dispute Resolution and M&A and Capital Markets and Related Foreign Legal Services, as well as her additional expertise in high and new technology and other sectors of business law. The extensive expertise of the JT&N team has resulted in the establishment of loose cooperative relationships with numerous international and domestic law firms around the world, as part of JT&N’s accredited and vast international network that supports the optimisation of resource sharing and business interaction for the benefit of its clients. Moreover, JT&N is a member of ADVOC, a leading international network of independent law firms, with approximately 100 members in more than 60 countries worldwide, and has established an informal cooperation with LEX AFRICA, covering 24 African countries. Yet to maintain a standard of excellence in such a far-reaching organisation requires effective communication – something that JT&N exemplifies in every aspect of its business. From its client-centric ethos that ensures the client is heard and respected in all decisions around their legal matters; to the collaboration it employs across its teams of experts in sourcing the most effective and tailored solutions to meet the needs of its clients; to its strong working relationships with the government of China and elsewhere to ensure its advice remains compliant and relevant on a day to day basis, JT&N benefits from a wide-ranging and trusted network to ensure that it remains a leading authority on a comprehensive range of legal matters, both in Asia and globally. This year, JT&N is able to add two awards to its already impressive roster following its success at the APAC Legal Awards 2021. With these and numerous other accolades at similarly prestigious awards like the Chambers AsiaPacific Awards 2021 and the World Trademark Review to its name, there is little doubt that JT&N has truly established itself as a leading legal firm of the last three decades. Contact: Yunyan Zhang Company: Jincheng Tongda & Neal Web Address: www.jtnfa.com/en/ index.aspx?Lan=EN Sep21672
12 APAC / Issue Q4 2021 , Shareholders more likely to support eco-initiatives if they have experienced climate disasters Our study seeks to better understand why these initiatives receive such little support, and what it takes to pass them successfully Shareholders in locations recently hit by climaterelated disasters such as hurricanes are far more likely to support environmental proposals, by as much as 38%, even when such proposals risk decreasing firm value, according to new research from the Rotterdam School of Management Erasmus University (RSM). The study, undertaken by Dr Guosong Xu at RSM alongside Dr Eliezer Fich at Drexel University, sought to bring greater understanding to two key questions at the crux of encouraging corporations to better support environmental protection efforts; whether shareholder beliefs about climate change alter their support for environmental proposals, and whether those proposals affect firm value. Dr Xu says, “Climate change related proposals have increased steadily in recent years, reflecting growing investor demand for corporate accountability. However, despite their popularity, these proposals commonly receive insufficient support. According to a report by the UN, just 2.8% received enough votes to pass during stockholder meetings held from 2006 to 2020. Our study seeks to better understand why these initiatives receive such little support, and what it takes to pass them successfully.” The researchers speculate that such a lack of voting support is driven by stockholders’ perception that climate-change is not an immediate concern. Belief, they say, plays an important role in investor behaviour. The researchers analysed mutual funds’ voting records of US firms according to the Institutional Shareholder Services (ISS) Voting Analytics database, between 2006 and 2020. They then mapped each funds headquarters to the Census 2010 county Federal Information Processing Standards (FIPS) code, to identify hurricane locations. By doing this, the researchers were able to base their findings on more than 357,000 voting observations made by shareholders of USbased firms. Dr Xu and Dr Fich made several key discoveries. Firstly, funds in areas hit by a hurricane were significantly more likely to vote for an environmental proposal in the immediate aftermath of the event, as were funds located in other hurricaneprone locations. The difference in investor support was as much as 38% higher in such locations. However, the effect was, for many, temporary, with most investors returning to their previous stances and reversing their support for such schemes within three years. Notably, the researchers say that fund characteristics such as size, performance, flows, attitudes towards environmental, social and corporate governance (ESG) issues had little impact on their research findings. Those instances where unconditional support was found for climate proposals did not differ among funds located either inside or outside of hurricane-prone locations in the years without a hurricane strike. Therefore, shareholders’ changed perceptions about climate risks were the most likely reason for their increased support for pro-environmental initiatives after a hurricane strike. Lastly, once climate-related proposals were passed, firm performance typically weakens. In analysing whether ESGrelated proposals created value for firms, the researchers discovered that companies that approved environmental proposals also typically exhibited lower long-term stock returns and accounting underperformance. The researchers say their work adds important information to the ongoing debate on the role of corporations in global environmental protection, by highlighting the role of investor psychology in altering shareholders’ perceptions about climate risks and, consequently, their support for corporate environmental policies.
APAC / Issue Q4 2021 13 , The professional recruitment market has continued to perform exceptionally well with increases in year-on-year vacancy and placement figures, while monthly data points towards a recruitment sector recovering exceptionally well from the pandemic. However, employers must be more creative at attracting top talent amid chronic skills shortages. That’s according to the latest Recruitment Trends Snapshot report from The Association of Professional Staffing Companies (APSCo). The data, provided by growth analytics experts cube19, revealed perhaps unsurprisingly that year-on-year metrics for permanent vacancies and placements showed marked increases – up 39% and 91% respectively – which is entirely reflective of the easing of restrictions over the summer of 2020 which was quickly followed by the Government reintroducing working from home and a 10pm curfew for the hospitality sector in the latter part of September. However, the fact that both permanent and contract vacancies increased between August and September 2021 – up 13% and 7% respectively – is indicative of the widely reported skills shortages across the professional sector which continue to drive demand for talent. This is in line with the White collar jobs market booming: Employers need to be more creative to attract talent amid chronic skills shortages latest data from the Office for National Statistics (ONS), which shows vacancies hit record highs between July and September. APSCo’s data continues to reveal the ongoing reliance placed on professional staffing firms by employers as demand for talent drives hiring activity with sales revenue for both permanent and contract placements up 2% and 16% month-on-month. With widespread reports of skills shortages, coupled with the UKs post Brexit immigration policy exacerbating this issue, employers are having to be more creative in their talent attraction strategies in a post Covid environment where talent is demanding more from companies than salary alone. This is in keeping with the latest research from APSCo member Reed.co.uk which suggests that businesses need to adapt their offerings in accordance with new priorities shaped by the pandemic. Commenting on the data Ann Swain, Chief Executive of APSCo said: “We’re seeing a continued demand for new skills across the professional staffing sector that is both positive and concerning. While it’s encouraging to see vacancy and placement numbers increasing, we’re all too aware that skills shortages are rife across every industry. Where there’s a limited availability of skills – and an unattractive visa route that fails to encourage non-UK nationals into employment in the country – employers are going to have to be more creative at attracting top talent. Salary is obviously a major draw but increasingly, benefits that facilitate flexible working and a work life balance are becoming increasingly sought after. While the staffing sector is equipped to support UK employers as the economy continues to bounce back, in the current environment, securing the best skills is going to require the appropriate investment – and that’s not always just about money.” Joe McGuire, Chief Revenue Office at cube19 says: “After seeing the growth numbers revised up, it is encouraging but maybe not surprising to see these stats rising again. There is a significantly growing demand for contractors and in spite of perm vacancies still trending behind pre-pandemic levels, perm placements are at an all-time high, which is indicative of a candidate short market. There are some clear challenges in front of us but we remain positive that the professional recruitment market will remain buoyant for some time.”
14 APAC / Issue Q4 2021 , The need for cybersecurity measures is only growing. People take many steps in order to keep their data safe, which often provide enough protection. However, it is different when you look at it from a business perspective. Like digital expert Roger West says, you should pay special attention to cybersecurity, especially when marketing your business online. If you want to take care of your company’s cybersecurity, you must safeguard the data and infrastructure. Enterprise cybersecurity strategies often consist of several fundamental components, including a comprehensive cybersecurity training and education program and an established cybersecurity culture. Effective strategies can protect you and your business on many levels, as long as you remember cyber essentials – training, support and certification. If you are new to the topic and wish to know the four key components of an enterprise When it comes to the technicalities of law, there is a wealth of knowledge that simply cannot be learned fromacademic studies. The teamat Takashima International Patent Office, including the renownedMitsunori Kamada, use their formidable experience to help their clients achieve incredible levels of success. Recognised for their efforts in the APAC Legal Awards 2021, we thought it time to take a closer look at their success. 4 Key Components of an Enterprise Cybersecurity Strategy cybersecurity strategy, make sure you check this article below! Cybersecurity Awareness and Training The first and crucial component of an effective cybersecurity strategy is establishing and implementing a comprehensive training and education program across your enterprise. This must be carried out to produce both knowledge and skills while promoting an environment in which it is clear that cybersecurity is a key business priority. Such a program aims to enable your employees to make security-related decisions and implement best practices to protect themselves, the business, and the data within it. It is vital to ensure that all employees, including management and executives, are familiar with cybersecurity fundamentals. As part of your training program, you should introduce an element of ongoing training for existing employees. It is also wise to include education sessions in your employee onboarding process. This will ensure that all new employees have a solid foundation in cybersecurity practices from the very beginning. Network Monitoring To effectively protect your network and data, it is essential to monitor them. This involves extensive logging of both inbound and outbound traffic, as well as the use of tools such as firewalls and intrusion-detection devices. You can also employ a combination of technologies, such as baseline security and threat detection and developer and application monitoring. These programs can give you valuable insight into how secure your network is, as well as your applications and data. Network monitoring allows you to find out if there is any kind of suspicious activity in your network. For example, you can check who is accessing what devices and applications. If you notice anything suspicious, it is vital to act immediately. You can put a block or restrict access to the suspicious device, application, etc. Another option is to check the data that is leaving your network. For example, you can find out who is sending it outside of the organization. This is an excellent way to stop data exfiltration. Finally, it is essential to note that while you can use several tools to monitor your network, not all of them are sufficient. Some of them might be too expensive, while others might not offer the kind of advanced features you need. This is why it is vital to choose the right tool for your network monitoring.
APAC / Issue Q4 2021 15 4 Key Components of an Enterprise Cybersecurity Strategy Incident Response Plan No matter how strong your network security is, there is always a possibility of getting hacked. It is vital to have an incident response plan in place before the incident happens. This will enable you to deal with any potential cyber-attacks or data breaches in the most efficient way possible. The plan should include a stepby-step approach to dealing with the security incident. In certain situations, you might need to notify law enforcement agencies, as well as relevant stakeholders. After that, you can take the necessary steps to contain the damage and prevent future incidents from occurring. As part of your incident response plan, you should also consider appropriate responses to cyber attacks. Your IT department can develop and implement these measures, and the response will likely depend on the kind of attack you are facing. For example, you can deal with an email-based phishing campaign with a phishing response plan. If you encounter a ransomware attack, it is vital to have an effective backup and recovery solution in place. Identity And Access Management A lack of centralized identity and access management can result in a serious threat to your network security. It is vital to ensure that there is only authorized access to the network and data while also preventing unauthorized or inappropriate access. It is essential for any enterprise that wants to secure its information and data effectively and efficiently. Proper identity and access management enable you to separate your network into two parts: public and private. This way, you reduce the risk of a cyber attack. Additionally, you should implement a single sign-on solution to make it easier for employees to access all of their business applications using a single username and password combination. This will enable you to protect your data from unauthorized access by reducing the risk of a successful attack. If you want to ensure that your company’s resources and data are safe, you should definitely pay attention to the identity and access management system. This is not only recommended – it’s absolutely necessary. In Conclusion These are the four key components of an enterprise cybersecurity strategy. If you are new to this topic, make sure you take the time to implement these security measures in order to prevent cyber incidents from happening. If you already have a cybersecurity strategy, then make sure all these practices are well taken care of. Remember that cyber incidents can be very costly, and it is always better to prevent them from happening than to try to fix them.